https://www.taxtmi.com/caselaws?id=4541 The Tribunal upheld the Commissioner's decision in the case, allowing depreciation on capital goods used in export production despite unfulfilled export obligations. Duty was to be calculated on the depreciated value of goods, following the Natural Stone Exports case. The Tribunal rejected the revenue's appeal, affirming the eligibility for depreciation when partial export obligations are met. The penalty imposed for non-fulfillment of export obligations was deemed reasonable, considering the duty foregone. Confiscation of goods was not warranted as they were in the warehouse under bond, with appellants liable for duty payment and interest. en-us Tue, 05 Feb 2008 00:00:00 +0530 Sat, 12 Jul 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4541 The Tribunal upheld the Commissioner's decision in the case, allowing depreciation on capital goods used in export production despite unfulfilled export obligations. Duty was to be calculated on the depreciated value of goods, following the Natural Stone Exports case. The Tribunal rejected the revenue's appeal, affirming the eligibility for depreciation when partial export obligations are met. The penalty imposed for non-fulfillment of export obligations was deemed reasonable, considering the duty foregone. Confiscation of goods was not warranted as they were in the warehouse under bond, with appellants liable for duty payment and interest. Case-Laws Customs Tue, 05 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4541